The new system will enable adoption of mobile payment capabilities to improve efficiencies and transaction experience for their consumers, while also eliminating the existing NFC infrastructure-related hurdles.
The mobile wallet features two key components, the first being a software-only acceptance interface that can be quickly deployed on any POS or payment terminal across a range of consumer to merchant touch points.
The second is a software only mobile wallet that empowers users to carry out transactions using a variety of different payment methods at checkout.
The platform has PCI Level 1 certification and a cloud-based credentialing system that does not store any sensitive information on the mobile device, claims the company.
Vantiv provides a suite of traditional and innovative payment processing and technology technologies to merchants and financial institutions of all sizes in the US.
Based on an enterprise-class, cloud-based transaction processing platform, the Paydiant service enables key stakeholders in the payments value chain including retailers, banks, and payment processors – to control the next generation of payment systems.
